LADENBURG THALM/SH SH Cuts SL Green Realty (NYSE:SLG) Price Target to $50.00

SL Green Realty (NYSE:SLG) had its price objective reduced by LADENBURG THALM/SH SH from $60.00 to $50.00 in a research report released on Thursday,Benzinga reports. LADENBURG THALM/SH SH currently has a neutral rating on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on the company. Mizuho lowered their price target on SL Green Realty from $67.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Citigroup upgraded SL Green Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $70.00 in a report on Friday, September 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $46.00 target price (down from $60.00) on shares of SL Green Realty in a research note on Tuesday, December 9th. Wells Fargo & Company cut their price target on shares of SL Green Realty from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, October 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of SL Green Realty from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.88.

SL Green Realty Stock Up 0.1%

Shares of NYSE:SLG opened at $44.38 on Thursday. The company has a 50 day moving average price of $48.39 and a two-hundred day moving average price of $55.95. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.22 and a current ratio of 3.22. The company has a market capitalization of $3.17 billion, a PE ratio of 4,442.44 and a beta of 1.61. SL Green Realty has a 52 week low of $40.26 and a 52 week high of $69.87.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Thursday, October 16th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.24. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The company had revenue of $244.82 million during the quarter, compared to analyst estimates of $170.27 million. During the same quarter in the previous year, the business earned $1.26 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. Analysts forecast that SL Green Realty will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a $0.2575 dividend. The ex-dividend date was Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. SL Green Realty’s dividend payout ratio (DPR) is 30,900.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC raised its stake in SL Green Realty by 36.9% in the 1st quarter. Intech Investment Management LLC now owns 48,390 shares of the real estate investment trust’s stock valued at $2,792,000 after acquiring an additional 13,048 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of SL Green Realty by 8.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust’s stock worth $97,851,000 after buying an additional 130,206 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of SL Green Realty during the 2nd quarter worth about $225,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of SL Green Realty by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 524,251 shares of the real estate investment trust’s stock worth $30,249,000 after buying an additional 50,450 shares during the period. Finally, American Century Companies Inc. acquired a new position in SL Green Realty in the 2nd quarter valued at about $12,841,000. Institutional investors own 89.96% of the company’s stock.

About SL Green Realty

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.